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Hershey (HSY) Stock Dips While Market Gains: Key Facts
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In the latest market close, Hershey (HSY - Free Report) reached $189.50, with a -1.32% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 0.74% for the day. Elsewhere, the Dow saw a downswing of 0.01%, while the tech-heavy Nasdaq appreciated by 1.68%.
Heading into today, shares of the chocolate bar and candy maker had lost 1.97% over the past month, lagging the Consumer Staples sector's loss of 1.52% and the S&P 500's gain of 0.8% in that time.
The investment community will be paying close attention to the earnings performance of Hershey in its upcoming release. The company is slated to reveal its earnings on May 3, 2024. It is anticipated that the company will report an EPS of $2.72, marking an 8.11% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $3.12 billion, indicating a 4.45% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $9.60 per share and a revenue of $11.47 billion, demonstrating changes of +0.1% and +2.75%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Hershey. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.06% higher. Currently, Hershey is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Hershey is currently being traded at a Forward P/E ratio of 20.01. Its industry sports an average Forward P/E of 19.05, so one might conclude that Hershey is trading at a premium comparatively.
We can additionally observe that HSY currently boasts a PEG ratio of 2.95. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Food - Confectionery was holding an average PEG ratio of 2.62 at yesterday's closing price.
The Food - Confectionery industry is part of the Consumer Staples sector. This industry, currently bearing a Zacks Industry Rank of 224, finds itself in the bottom 12% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Hershey (HSY) Stock Dips While Market Gains: Key Facts
In the latest market close, Hershey (HSY - Free Report) reached $189.50, with a -1.32% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 0.74% for the day. Elsewhere, the Dow saw a downswing of 0.01%, while the tech-heavy Nasdaq appreciated by 1.68%.
Heading into today, shares of the chocolate bar and candy maker had lost 1.97% over the past month, lagging the Consumer Staples sector's loss of 1.52% and the S&P 500's gain of 0.8% in that time.
The investment community will be paying close attention to the earnings performance of Hershey in its upcoming release. The company is slated to reveal its earnings on May 3, 2024. It is anticipated that the company will report an EPS of $2.72, marking an 8.11% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $3.12 billion, indicating a 4.45% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $9.60 per share and a revenue of $11.47 billion, demonstrating changes of +0.1% and +2.75%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Hershey. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.06% higher. Currently, Hershey is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Hershey is currently being traded at a Forward P/E ratio of 20.01. Its industry sports an average Forward P/E of 19.05, so one might conclude that Hershey is trading at a premium comparatively.
We can additionally observe that HSY currently boasts a PEG ratio of 2.95. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Food - Confectionery was holding an average PEG ratio of 2.62 at yesterday's closing price.
The Food - Confectionery industry is part of the Consumer Staples sector. This industry, currently bearing a Zacks Industry Rank of 224, finds itself in the bottom 12% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.